Question

Selected accounts with some amounts omitted are as follows: work in process datetransactiondebit amountdatetransactioncredit amount aug. 1balance262,530aug. 31goods finished148,780 31direct materialsx 31direct labor32,900 31factory overheadx factory overhead datetransactiondebit amountdatetransactioncredit amount aug. 1–31costs incurred115,040aug. 1balance12,910 31applied (30

Answer 1

The selected accounts mentioned in the question are related to the cost of goods produced and the factory overhead. The balances and transactions of these accounts are provided for the month of August.

Step-by-step explanation:

The selected accounts mentioned in the question are related to the cost of goods produced and the factory overhead.

The balances of these accounts are provided along with the dates of various transactions.

On August 1, the work in process account had a balance of $262,530. On August 31, goods finished with a value of $148,780.

Direct materials and direct labor were added to the work in process account on August 31, but their amounts are omitted.

Similarly, the factory overhead account had a balance of $12,910 on August 1 and additional costs of $115,040 were incurred from August 1 to 31, but the applied factory overhead amount is missing.